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Укр Banking stability, social responsibility and European integration: what Vitaliy Romanchukevich talked about in the program "From the first person"
First Vice President of the Association of Ukrainian Banks Vitaliy Romanchukevich took part in the program "From the First Person." During the broadcast, key issues of the development of the banking system of Ukraine, financial inclusion, hryvnia stability, the role of state banks, the shadow economy, digital finance, as well as social challenges facing the state and business in times of war were discussed.
In his speech, Vitaliy Romanchukevich emphasized that the banking system of Ukraine has demonstrated high resilience despite the war, thanks to large-scale reforms that were carried out in previous years. At the same time, he focused on the need to adjust regulatory policy, especially in terms of preventing imbalances between banks with Ukrainian and foreign capital.
According to the first vice-president of AUB, the state and the regulator should not only control, but also stimulate the development of financial services, including expanding access to credit. He emphasized that too strict regulation can restrain growth, and the regulator's task is to find a balance between stability and development.
Vitaliy Romanchukevich paid special attention to the topic of the exchange rate. He noted that the stability of the hryvnia is one of the key factors of trust in the banking system, and called for a cautious, balanced exchange rate policy. The opinion was also expressed on the importance of transforming the state banking sector, in particular, reducing the state's dominance in the financial market and creating conditions for healthy competition.
In the context of future changes, the draft law on the Bank of Financial Inclusion was also considered. Vitaliy Romanchukevich emphasized that its appearance is an indicator of the lack of access to financial services for a part of the population. At the same time, in his opinion, this project should be implemented subject to compliance with equal rules for all players in the financial market.
Among the social topics that were aired, the issue of social stratification deserves special attention. The expert emphasized the threats posed by growing inequality in access to financial instruments and called for the active development of financial education programs.
Vitaliy Romanchukevich also emphasized that the successful return of Ukrainians from abroad is possible only if a decent economic environment is created. In this context, state programs to support small businesses, access to housing, as well as investment initiatives based on the Marshall Plan model play an important role.
Concluding the conversation, the First Vice President of AUB concluded that European integration should be a tool for development, not a mechanical copying of Western practices. He also noted the need for a gradual transition to digital finance, while recognizing that cash will remain an important element of the economy for a long time to come, especially in the context of shadow money circulation.
